In which year was the Securities and Exchange Board of India first set up, as a non-statutory body?
Question and options
In which year was the Securities and Exchange Board of India first set up, as a non-statutory body?
1985
1995
1992
1988
Answer and explanation
Correct answer: D - 1988
SEBI was constituted as a non-statutory body on 12 April 1988 by a resolution of the Government of India. It became a statutory body only when the Securities and Exchange Board of India Act, 1992 came into force on 30 January 1992, which is why 1992 is the usual wrong answer.
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